BUSINESS Japan's fiscal 2020 budget to hit record

BUSINESS

Japan's fiscal 2020 budget to hit record

China Daily

15:45, December 11, 2019

Crossroads in Tokyo's Shibuya are pictured by night. (Photo: VCG)

Japan's initial budget for fiscal 2020 is expected to hit a record high with increasing social security and defense costs, local media reported.

The initial general account budget for the fiscal year 2019 ending March stood at 101.46 trillion yen ($933.4 billion), according to government officials.

The budget for the next fiscal year is expected to increase as the government will earmark funds to implement free preschool education program extension as well as a rebate program for cashless purchases which is aimed at boosting consumer spending following the consumption tax hike in October.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue